Elefante Mark B Makes New $696,000 Investment in Visa Inc. (NYSE:V)

Elefante Mark B acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,985 shares of the credit-card processor's stock, valued at approximately $696,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Financial Engines Advisors L.L.C. increased its position in shares of Visa by 111.6% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 5,964 shares of the credit-card processor's stock valued at $1,885,000 after purchasing an additional 3,146 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Visa by 6.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,544,870 shares of the credit-card processor's stock valued at $2,061,024,000 after purchasing an additional 410,354 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its position in Visa by 1.9% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 152,442 shares of the credit-card processor's stock worth $48,178,000 after purchasing an additional 2,835 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.8%

NYSE V traded up $2.96 during trading hours on Friday, hitting $356.93. The company's stock had a trading volume of 3,915,274 shares, compared to its average volume of 5,404,370. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The firm has a market capitalization of $658.60 billion, a P/E ratio of 35.87, a PEG ratio of 2.39 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average of $356.30 and a 200 day moving average of $345.00.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the business posted $2.51 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is currently 23.72%.

Analysts Set New Price Targets

V has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Barclays reissued an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Oppenheimer upped their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $375.52.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 in the last ninety days. Company insiders own 0.13% of the company's stock.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.